HCW Biologics Inc. 8-K

What Happened
HCW Biologics Inc. (HCWB) announced a 1-for-6 reverse split of its common stock, approved by the board on June 24, 2026 and expected to be effective at or about 12:01 a.m. Eastern on June 30, 2026. The board acted under authority granted by stockholders at the company’s June 15, 2026 annual meeting. The company expects the Common Stock to trade on Nasdaq on a reverse-split-adjusted basis under the existing ticker “HCWB” at the open of business on June 30, 2026.

Key Details

• Reverse split ratio: 1-for-6; effective date/time: ~12:01 a.m. Eastern, June 30, 2026; trading adjusted at Nasdaq open June 30, 2026.
• Outstanding shares: 9,581,079 before the split; approximately 1,596,849 expected after the split (subject to rounding).
• Fractional shares will be rounded up to the next whole share (no cash payment); CUSIP will change to 40423R303.
• Options and warrants will be adjusted: number of underlying shares divided by 6 and exercise/conversion price multiplied by 6 (rounded up to whole shares as required).
• Reason: to help maintain compliance with Nasdaq Listing Rule 5550(a) (minimum bid price) and satisfy conditions from a Nasdaq Hearings Panel decision (Panel letter dated May 29, 2026).

Why It Matters
The reverse split reduces the number of outstanding shares and raises the per-share trading price, a common step companies take to meet Nasdaq’s minimum bid-price requirement and avoid delisting. For existing shareholders, proportional ownership and voting power remain essentially unchanged aside from minor changes from rounding. Holders of options and warrants will see adjusted share counts and prices per the terms described. Shareholders holding shares through brokers (“street name”) do not need to take action; changes will be reflected automatically by the transfer agent or brokers.